French media group Vivendi has published its financial results for the first half of 2013, reporting consolidated revenues of EUR10.842 billion (USD14.43 billion), a marginal decrease of 1.5% compared to EUR11.008 billion in 1H12. Adjusted net profit, however, dropped by 25% year-on-year to EUR845 million from EUR1.127 billion in 1H12, mainly attributed to the decrease in EBITDA, which was down 27% to EUR1.391 billion. The decline in EBITDA was caused by the struggles faced by its SFR mobile division, which was caught up in a fierce price war with its market competitors. In the period under review, SFR’s revenues amounted to EUR5.108 billion, an 11.3% decrease year-on-year, mainly attributed to the impact of price cuts due to the competitive environment. SFR’s EBITDA also decreased by 20.5% to EUR1.47 billion in 1H13.
In operational terms, SFR’s total mobile customer base reached 21.049 million subscribers by 30 June 2013, with a total of 17.372 million post-paid subscribers at that date, corresponding to 809,000 net additions in the first half of 2013. Mobile internet usage also improved, with 55% of SFR customers equipped with a smartphone at end-June 2013, compared to 46% a year earlier. The number of fixed broadband accesses reached 5.164 million at the end of June 2013, with 89,000 net additions during the first six months of the year.